Bitcoin is testing the waters “golden cross,” Mister crypto, an analyst on the cryptocurrency market, says that a bullish trend has traditionally preceded rallys.
On a Sunday post On X, an analyst posted a graph noting Bitcoin’s.BTCGolden crosses in the past led to gains in 2017, of 2,200%, and in 2020 1,190%. He said that BTC is currently nearing $110,000 and suggested holding the price above this level would ignite a new parabolic movement.
“The setup looks incredibly strong,” He wrote that an official breakout was possible. “absolutely explode” Bitcoin price forecast for the next few weeks
The following are some of the ways to get in touch with each other golden cross This is a trading signal for bulls that occurs when a moving average crosses over a longer-term one, which in most cases, the 200 day. This signals a shift in momentum from bearish towards bullish. Prices may begin to rise.
Related: Luxembourg sovereign wealth fund dips into Bitcoin ETFs with 1% stake
Bitcoins must be at least $110K to avoid a cycle ending: Analyst
Crypto Analyst Mac warned Bitcoin needs to hold $110,000 in order for the current cycle not to end. In a recent post, he stated that the Money Flow Index is indicating a downward trend. “deeply oversold,” BTC may be in for a quick-term rebound.
Mac also said the current risk-to reward setup is favorable. However, he did not anticipate a big surge in the near term. Mac anticipates instead “a little more upward chop next week.”
Tom Lee is the co-founder and CEO of Fundstrat believes Recent stock market declines “may be overdue to an extent,” Noting that the markets are up 36% from April, and Friday’s decline was the largest in 6 months.
The VIX index, a gauge of volatility in the market, spiked up by 1.29 percent, and he called it a “serious” increase. “the 51st largest ever spike in the VIX,” Some investors are looking for safety.
Lee said that a spike in volatility is a typical sign of an imminent market bottom as traders are rushing to buy rather than hedge. “If someone says, ‘Are we higher a week from today?’ I’m going to say the odds are actually really good,” “He said”
Related: How high can Bitcoin price go in October?
Trump announces 100% tariffs against Chinese imports
Following Donald Trump’s declaration that the US would withdraw from NATO, markets have been roiled since. impose 100% tariffs on all Chinese Imports will begin on Nov. 1 in response to Beijing’s recent export restrictions for rare earth minerals.
China, the source of 70% of all rare earths in the world, has recently implemented export licensing requirements for products containing greater than 0.1% Chinese rare earths. These rules will be effective from Dec. 1.
Magazine: Worldcoin’s less ‘dystopian,’ more cypherpunk rival — Billions Network
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Source: cointelegraph.com
